A new wave of reforms have been launched by the government under several new campaigns. Campaigns like Make in India, Digital India, Skill India and Start-up India are pushing the economy for a change by transforming behaviour among stakeholders.

The third edition of the Rising Sun is inspired by the clear trend of renewable energy emerging as a mainstream energy source globally within the next decade. In addition, the edition draws from the recent developments that have taken place in the solar PV cost curves and what those mean for the fast-growing Indian economy.

Digitalisation in banking continues to be perceived both as an opportunity as well as a challenge. The banking sector is witnessing new breakthroughs that have the potential to redefine how banking services would be offered in the coming years.

Goods and Services Tax (GST), one of the most radical tax reforms in the history of Indian economy, has been announced to come into effect from 1 April 2016. GST is expected to have far reaching impact, much beyond taxes.

The seventh edition of ENRich, KPMG in India’s flagship event for the Energy and Natural Resources (ENR) sector, is scheduled to be held on Tuesday, 15 November 2016 at the Taj Palace, Sardar Patel Marg, New Delhi.

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First Notes - 2 June 2015

First Notes - 2 June 2015

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The Union Cabinet on 2 December 2014 introduced an amendment bill in the Parliament proposing certain amendments to the Companies Act, 2013 (2013 Act). Subsequently, on 29 April 2015 certain additions were made in the amendment bill. Post approval from the Lok Sabha and the Rajya Sabha, the amendment bill was finally assented by the President of India on 25 May 2015. These amendments are called as the Companies (Amendment) Act, 2015 (Amendment Act, 2015) and have been published in the Official Gazette on 26 May 2015.

The Central Government can appoint different dates for the provisions of the Amendment Act, 2015 and any reference in any provision to the commencement of the Amendment Act, 2015 shall be construed as a reference to the coming into force of that provision. Consequently, the Central Government has appointed 29 May 2015 as the date on which Section 1 to 12 and 15 to 23 of the Amendment Act, 2015 would come into force.

Additionally, on 29 May 2015, the Ministry of Corporate Affairs (MCA) has issued certain amendments to some of the provisions contained in:

Companies (Registration Offices and Fees) Rules, 2014

Companies (Share Capital and Debentures) Rules, 2014

Companies (Declaration and Payment of Dividend) Rules, 2014, and

Companies (Incorporation) Rules, 2014.

The amendments to these Rules would be effective from the date of its publication in the Official Gazette.

This issue of First Notes provides an overview of the key amendments made in the 2013 Act and to the aforesaid Rules. For the text of the amendments, For the text of the notification of sections, please click here.